Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Message of tolerance, peace expressed at GYV’s fast-breaking dinner

A message of tolerance, dialogue and coexistence for people of different faiths and ethnic backgrounds was dominant at a fast-breaking dinner organized by the Journalists and Writers Foundation (GYV) on Thursday. “We have capital no other than love, no intention other than serving humanity,” Mustafa Yeşil, head of the GYV, said at the fast-breaking dinner, […]

Alienating Turkey

Pro-government media outlets publish reports and news stories that are dark propaganda. Prime Minister Recep Tayyip Erdoğan and leading party figures make unfounded accusations directed at the Hizmet movement at every opportunity. In Turkey, when people want to hide something and divert attention, they create a virtual agenda and you are asked to follow the distortionist.

Turkey’s Unethical Interference in American (Muslim) Civic Society is Dangerous

The Erdogan government jails its citizens without due process, severely curtails freedom of speech by jailing journalists, and ignores the plight of vulnerable minorities. They are the least credible messengers to warn Americans about their civic duty. The Turkish Consulate’s attempt to use McCarthyite tactics to spread fear and unduly influence American civic life is simply abhorrent and deserves condemnation.

40,000 people reported to authorities for being Gülen followers since July 15

As many as 40,000 people have been reported to the Ankara Police Department for being followers of the Gülen movement since a failed coup attempt on July 15. Although the movement strongly denies having any role in the corruption probe and the coup attempt, the government accuses it of having masterminded both despite the lack of any tangible evidence.

60-year-old Turkish villager detained after questioning gov’t coup narrative

Murat Gulen, a 60-year-old villager and a relative of Fethullah Gulen was detained after he was revealed questioning the government’s narrative over the July 15, 2016 coup attempt during a video interview by the pro-government Ihlas News Agency.

Damage assessment report for Erdoğan

The wounds Prime Minister Recep Tayyip Erdoğan is suffering as a result of a war waged against the Gülen movement in connection with the corruption and bribery probe are becoming clear. Whether or not Erdoğan has become more authoritarian is now less debatable; it is a concrete fact rather than a perception.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkey may be challenged in ECtHR due to massive crackdown, CoE head warns

Arrested Turkish Development

Daily: Gov’t, watchdog attempted to sink Bank Asya

Is There ‘The Cemaat’ Under Every Stone?

Kimse Yok Mu to share perspectives at Clinton Global Initiative Annual Meeting

Freedom comes with a price

Int’l students delight Washington in language festival

Copyright 2026 Hizmet News